Northwestern Mutual Wealth Management Co. Sells 54,453 Shares of Comcast Corporation $CMCSA

Northwestern Mutual Wealth Management Co. cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 19.8% during the fourth quarter, HoldingsChannel reports. The firm owned 220,938 shares of the cable giant’s stock after selling 54,453 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Comcast were worth $6,604,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Ilmarinen Mutual Pension Insurance Co raised its position in Comcast by 34.1% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 802,749 shares of the cable giant’s stock valued at $23,994,000 after purchasing an additional 204,000 shares during the period. CFS Investment Advisory Services LLC raised its position in Comcast by 16.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 23,993 shares of the cable giant’s stock valued at $717,000 after purchasing an additional 3,333 shares during the period. Baker Avenue Asset Management LP raised its position in Comcast by 35.7% during the fourth quarter. Baker Avenue Asset Management LP now owns 16,935 shares of the cable giant’s stock valued at $506,000 after purchasing an additional 4,457 shares during the period. Godfrey Financial Associates Inc. purchased a new stake in Comcast during the fourth quarter valued at approximately $36,000. Finally, IFG Advisory LLC raised its position in Comcast by 6.1% during the fourth quarter. IFG Advisory LLC now owns 122,501 shares of the cable giant’s stock valued at $3,662,000 after purchasing an additional 7,087 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CMCSA shares. New Street Research decreased their price objective on Comcast from $36.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Scotiabank upped their price objective on Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Evercore upped their price objective on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Wall Street Zen upgraded Comcast to a “hold” rating in a report on Saturday, March 14th. Finally, BNP Paribas Exane reduced their price target on Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a report on Wednesday, April 8th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.79.

Comcast Trading Down 0.8%

Shares of NASDAQ CMCSA opened at $24.85 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The business’s 50 day moving average price is $27.18 and its 200-day moving average price is $28.53. Comcast Corporation has a fifty-two week low of $24.53 and a fifty-two week high of $36.66. The company has a market cap of $88.77 billion, a price-to-earnings ratio of 4.89, a PEG ratio of 2.04 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that Comcast Corporation will post 3.53 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio is presently 25.98%.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.